MARGAO
Where have all the depositors of the Madgaum Urban Cooperative Bank (MUCB) gone? Why have they still not laid their claim on their deposits with the bank, which is now under liquidation? Are these depositors staying abroad for employment or other purposes and hence could not apply for the return of their hard-earned money with the bank?
These and other questions have come to the fore again as curtains have come down on the two-month time-frame set by the Bank Liquidator S V Naik for the bank depositors to lay their claim for the return of deposits.
For, thousands of depositors, may be numbering around 40,000, have still not submitted claims for their return of their deposits lying with the bank till date, leaving the liquidator and the staff in a tight spot.
Consider this. Of the total 56,635 depositors with the bank, not even one fourth of the depositors have till date claimed their deposits during the two-month time-frame. The bank had received around 5,053 claims during the month of September, indicating that hardly 3,000-odd depositors have lodged their claims in the month of October.
Liquidator-appointed designated officer, Kishore Amonkar was candid in saying that less than 10,000 depositors, around 8,000-plus depositors to be precise, have submitted claims for the return of their deposits till date.
“We are in the process of compiling the number of claims received by the bank branches all over the State. Our preliminary inquiries have revealed that hardly 8,000-odd depositors have submitted their claims so far,” Amonkar said.
He added: “We have no idea why there’s a lukewarm response from the depositors. The money belongs to the depositors. As per
the norms of liquidation, the depositors have to submit their claim over the depositors before they get their money back.”
Amonkar, however, said though the office time-frame to claim the depositors have ended on October 31, the bank would continue to accept the claims made by the depositors.
“The bank has not stopped the exercise of accepting the claim forms from the depositors. They are still free to go to their respective branches and submit the claim forms,” he said.
To a question, the designated officer pointed out that the bank will now set in motion the process to compile the list of depositors who have submitted their claim forms.
“The process of compiling the claim forms will begin now. We will come to know the exact number of depositors who have submitted their claims and the amount of money they have claimed,” he said.
He added: “Once the bank shuts down the branches, including the ones operational from rented premises, the depositors then will have to submit their forms to the Head Office at Aquem.”
Of the 8,000-odd claims received by the bank, Amonkar said the Bank will now ascertain the number of depositors who come within the Rs 5 lakh deposits, since these depositors are covered under the deposit insurance claim from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
“Once we intimate the DICGS, we expect the auditors appointed by the Corporation to scrutinise the claims. This process is expected to start from November 15,” he said.
Anonkar said the depositors, who have submitted their claims should hopefully receive their deposits before the year-end.
